Clayton Company purchased a new coffee maker in the amount of $3,500. Clayton paid $1,000 down and will pay the remainder in 60 days. What effect does this transaction have on the accounting equation? Oa $2,500 net increase in assets and $2,500 increase in liabilities b. $3,500 net increase in assets and $3,500 increase in liabilities Oc $3,500 net increase in assets and $2,500 increase in liabilities d. $1,000 net decrease in assets and $1,000 decrease in liabilities